Common Real Estate Terms

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There are currently 6 names in this directory beginning with the letter M.
Market Rent
Market Rent denotes the prevailing rental rate that a property could command in the current real estate market, reflecting the price range at which similar properties are leased.
Market Value
Market Value represents the highest price that a property could achieve in a competitive and open market, highlighting the optimal value of the property under favorable market conditions.
Metropolitan Statistical Area (MSA)
Metropolitan Statistical Area (MSA) refers to an area comprising a major city and its adjacent cities or urban areas. It serves as a geographical and sociodemographic unit for statistical and analytical purposes.
Mid-Rise pertains to a building characterized by having 4 to 8 stories above ground level. However, in a Central Business District, the definition of Mid-Rise may encompass buildings with heights extending up to twenty-five stories.
Model Unit
A Model Unit serves as a showcase unit utilized as a sales tool to exhibit the layout, amenities, and construction features of the actual units available for lease or purchase.
Multifamily Dwelling
A Multifamily Dwelling refers to a residential housing classification where multiple individual housing units are situated within a single building or a complex comprising several buildings. This housing arrangement is commonly observed in apartment buildings and multifamily communities.
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